Year End processing question

[Jay Ridgley]

Folks,

Does GnuCash allow for the inclusion of a closing date when the books are closed 
at the end of the financial year?  I am using version 2.24 under Ubuntu.

I, like most others, will not have all of my closing entries available until 
well after the end of the year. These transactions will of course need to post 
with a date prior or equal to the closing date. When I was using a plain old 
spread sheet it was not a problem since I could have multiple copies laying 
around, however, this is not the case with GnuCash, at least to my knowledge.

Therefor there is a need to be able to continue to use the books after the 
physical year ends. When I am ready to finally close the books for the year 
ended then all data up to and including the year ending date should be processed 
and the resulting difference used to update net worth and leave the expenses and 
income for the accounting period at zero.

Please advise if there is a flaw in my thinking here. I am not an accountant, 
however, I did take several accounting courses in college prior to the computer age.

Regards,
Jay
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Jay Ridgley
jridgley2 at austin.rr.com
Registered Linux User ID - 9115
Registered Ubuntu User ID - 23320